Citigroup gets Beijing’s approval for wholly owned securities firm in China

South China Morning Post - Oct 23, 2026

US bank Citigroup has received approval to set up a wholly foreign-owned securities firm in mainland China, allowing the lender to pursue more opportunities in one of the world’s largest capital markets. The long-awaited green light was given by the China Securities Regulatory Commission (CSRC) on Friday, and ahead of an expected meeting between President Xi Jinping and US President Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation (Apec) summit in Shenzhen next month. The...

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BIZ BUZZ: Pagcor bets on app to curb illegal gambling

Oct 23, 2026

BIZ BUZZ: Pagcor bets on app to curb illegal gambling

MANILA, Philippines — The Philippine Amusement and Gaming Corp. (Pagcor) is upping the ante against illegal online gambling, giving players a new way to tell which sites are playing a fair hand. In its latest bet on technology, Pagcor said it was developing a mobile app that could be in players’ hands as early as

Market sell-off, tax scrutiny and growth: key figures shaping investor sentiment

Oct 23, 2026

Market sell-off, tax scrutiny and growth: key figures shaping investor sentiment

As regional equities tumbled and hopes for investor stimulus faded, the Hang Seng Index fell to a seven-month low. Attention also remained focused on Beijing’s intensified scrutiny of offshore wealth and tax compliance. Macroeconomic data pointed to steady, if uneven, domestic momentum. Here are the core figures capturing market attention this week. Hong Kong stocks suffer steepest drop in 7 months The Hang Seng Index sank 3.03 per cent in a single session to 22,934.68 points, its worst...

DTI: Price freeze on basic goods until year-end

Oct 23, 2026

DTI: Price freeze on basic goods until year-end

MANILA, Philippines — Filipino consumers can expect no further price increases on basic goods until the end of the year, as manufacturers have agreed to hold off on raising prices despite mounting input costs amid still-elevated oil prices. Trade Secretary Cristina Roque said on Thursday that manufacturers of basic necessities and prime commodities (BNPCs) made

PNB 9M net income up 15%

Oct 23, 2026

PNB 9M net income up 15%

The Philippine National Bank (PNB) on Friday reported a 15% growth in its net income for the first nine months of the year, as lending posted double-digit growth during the period.

Beijing tightens rules on outbound capital to better shield Chinese assets

Oct 23, 2026

Beijing tightens rules on outbound capital to better shield Chinese assets

China has unveiled a revised rule for regulating outbound investment, requiring investors to report major adverse developments more diligently, including foreign demands to hand over technology or dispose of stakes. The new rule, announced by the National Development and Reform Commission (NDRC) on Thursday, aimed to better prevent and mitigate rising overseas risks and protect Chinese interests, according to the economic planner. “In recent years, a small number of countries and regions have...

British Chamber sees strong investment potential in PH but reforms needed

Oct 23, 2026

British Chamber sees strong investment potential in PH but reforms needed

The Philippines remains an attractive destination for British investments despite the challenges involving corruption, bureaucracy, and rising costs, according to the British Chamber of Commerce Philippines, which is calling for stronger legislation, improved infrastructure, and continued economic reforms.

What sector-specific licenses are required for foreign investors in Indonesia?

Oct 23, 2026

What sector-specific licenses are required for foreign investors in Indonesia?

Foreign investors need sector-specific approvals, licenses, and certifications based on activities, sector regulations, and product or facility requirements.

China’s Growth Rebounds While Home-Price Slump Eases

Oct 23, 2026

China’s Growth Rebounds While Home-Price Slump Eases

China's economy grew faster than expected in Q3, and September home prices declined at a slower rate.

Chinese stocks bounce back from bear market on suspected state support

Oct 23, 2026

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Chinese stocks rebounded on Friday after a sell-off drove the benchmark index into a bear market, as surging trading volumes in the nation’s biggest exchange-traded funds (ETFs) pointed to possible state buying and major companies at the centre of the artificial intelligence trade sought to soothe investors. The CSI 300 Index rose 1.7 per cent to 4,105.33 at the close, reversing an earlier decline of as much as 2 per cent. Turnover in several key ETFs tracking the gauge surged, suggesting that...

DBM moves budget request deadline 2 weeks earlier

Oct 23, 2026

DBM moves budget request deadline 2 weeks earlier

MANILA, Philippines — The Department of Budget and Management (DBM) has moved up the deadline for agencies to seek additional budget authorities by nearly two weeks as it races to assess remaining funding requests, with nearly all of the 2026 national budget already released. Under Circular Letter No. 2026-13, the DBM said government agencies have

P5-T investment needed to develop 25 GW hydropower

Oct 23, 2026

P5-T investment needed to develop 25 GW hydropower

MANILA, Philippines — Expanding the country’s hydropower capability with an additional 25 gigawatts will require about P5 trillion in new investments, an energy official said Thursday. According to Ariel Fronda, division chief of the DOE’s Hydropower & Ocean Energy Management Division, activating one megawatt from hydropower would cost about P200 million. READ: The inverse relationship between

1st Pampanga hospital makes renewable shift

Oct 23, 2026

1st Pampanga hospital makes renewable shift

MANILA, Philippines — Lopez-led First Gen Corp. has clinched a new pact to energize a tertiary hospital in Pampanga with renewable energy. On Thursday, the company announced it closed the agreement with Mother Teresa of Calcutta Medical Center (MTCMC) under the government’s retail aggregation program (RAP), allowing local households to consolidate demand to meet the 100-kilowatt

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